United States LED Street Lighting market is valued at 844.12 million USD in 2017
Thursday, 11 Oct, 2018
The United States LED Street Lighting market is valued at 844.12 million USD in 2017 and is expected to reach 1315.71 million USD by the end of 2025, growing at a CAGR of 5.43% between 2018 and 2025. In the next five years, the U.S. consumption of LED Street Lighting will show upward tendency further, consumption is expected in 2025 will be 7723 (K units).
Cree, Hubbell, Acuity?Brands captured the top three sales value share spots in the U.S. LED Street Lighting market in 2017. Cree dominated with 21.78% percent value share, followed by Hubbell with 17.83% percent production value share and Acuity?Brands with 12.68% percent sales value share.
Key factors boosting the demand for LEDs Street Lighting include continuously declining LED Street Lighting prices due to decreasing production cost coupled with initiatives taken by the US government.
Because LED technology is advancing so rapidly, utility companies and municipalities may have concerns that systems purchased today will become obsolete or will not be compliant with future upgrades. Reputable manufacturers however are making their LED street light offerings future-proof by designing them with replaceable modules that can be swapped out as technology improves. As well, the Department of Energy’s model specification for roadway luminaires contains an optional clause that requires the luminaire/driver to be able to accept a control signal and dim for future control. Finally, once one community, utility or State successfully implements an LED street lighting system, it paves the way for others to follow.